How to Find a Surety Bond Issuer

If you have a new contracting business, you may be uncertain as to how to find a surety company in New Jersey. As you have probably learned, the ability to bid on high-paying jobs is contingent upon being able to post surety bonds, also known as contract surety bonds or performance bonds, on a timely basis. Read on to find out how and where to obtain these bonds when you need them.

Surety Bond Issuers

The term “surety company” refers to the actual issuer of the bonds, i.e., the insurance company that underwrites them. These surety companies are often large property and casualty companies with departments that specialize in the issuance of surety bonds.

Sometimes contractors will refer to their insurance agency as their surety company, although technically the agency is an insurance producer, since they produce business for the insurance companies. Either way, you will need to find an insurance agency that specializes in this line of business since insurance companies do not normally deal with contractors directly. Therefore, for your business to be able to compete, you need to line up a good insurance agency ahead of the time.

By choosing an insurance agency with in-depth expertise in the complexities of contract surety bonds, you will have access to the right surety company in New Jersey when your next job requires a bond.


Knowing Your Stuff Gets You The Coverage You Need

Insurance from Myers in Champaign, Illinois can help you go the extra mile in every way that you need to. With a variety of insurance types and plans, Myers can be working tirelessly for you in the background while you enjoy what matters most: life. The right company wants to streamline its business dealings to make sure clients are comfortable and well taken care of with a variety of options. That is why Myers offers a wide range of personal and business insurance options. You can count on them to have what it takes to keep your insurance needs covered. With the right coverage at your back gives the assurance you need long-term.

Myers in Champaign, Illinois offers the expertise in the insurance business to keep clients feeling secure and taken care of. When you know your stuff, you find the right people to help you in life. Following your gut helps you to know when to commit and when to walk away. You would not be here were it not for a long string of decisions that have brought you exactly where you needed to be to find this information so that the right insurer would be available to you. The best thing you can do for yourself is to take a leap and trust that Myers will serve your needs.

Insurance That Helps You Get Yachts Built

Those who provide insurance for yacht builders encounter a unique market with particular pressures to keep things on the up and up and serve their clients with integrity. Pressure can come from markets outside the United States to ensure that remaining competitive is a primary goal and that means serving yacht builders well. We know that construction of a yacht can be a labor of love for either a recreational builder or in wholesale yacht construction. The best insurer can give peace of mind to ensure that builders can go about their projects with a minimum of fuss. Insurers must put their best foot forward to serve clients most effectively.

Insurance for yacht builders can help you make a dream project come to fruition. With the right coverage, your project can go farther. Whether it is large or small, there is an insurance policy that can cover what you need so that the yacht will be built efficiently and will reflect quality. Knowing that your insurer has your back can go a long way and is an essential piece of getting any important project done when insurance is necessary. Going with your gut about how and when to get insured will help you make decisions that help your project thrive and ultimately come to fruition.

The Importance of Workers Comp for Physical Labor in Retail

In today’s modern world, machines are almost everywhere. From bikes that individuals use for transportation or leisure to printers and scanners used in offices, machines play a vital role in homes and businesses. In order to be able to use these products, people typically must purchase them from stores. Machine dealer insurance can be extremely beneficial for employees who work at stores that sell these useful machines.

Dealing with machines is often very labor intensive. Retail workers may need to move the products around and lift them on shelves to be stored. Then, when a customer wishes to purchase a product, the workers will then typically need to take the machine off the shelf. Constantly moving, lifting and carrying these potentially heavy items can cause these workers to acquire health conditions that may require surgery. Other times, the suffering may be so bad that these employees may not be able to work for some time as they recover.

Workers compensation insurance can help cover the cost of surgery and other medical bills. It may also help pay the worker some of the lost wages. This way, the retailer dealing with these machines won’t need to suffer financially for merely doing their job.

Prolonged physical labor may cause health problems, but they don’t need to cause financial problems. Machine dealer insurance can ease the financial burden placed on workers.

Are Nurses Insurable?

In this day and age, you can barely make it through a commercial break on TV without hearing a lawyer advertise his or her services. The medical world is especially vulnerable to lawsuits, and rightly so, as these are people that are dealing with other peoples’ lives. However, things sometimes go wrong in the world of health care that is no one’s fault. It’s a difficult thing for some people to accept, especially when a loved one was injured or died unexpectedly. The survivors want someone to be responsible. Doctors always seem to have teams of lawyers working for them, but some may not know that there is malpractice insurance for nurses as well.

At the very beginning of nursing school, students are taught the weight of the responsibility they will hold when they’re licensed. Many students brush it off, thinking how could anyone be so distracted that he or she would give a wrong medication? However, when they start working twelve hour shifts and fatigue sets in, they’re getting pulled in a hundred different directions and have a million things left to do, they begin to realize just how easy it is to make a mistake. Some patients will accuse a nurse of doing something wrong just because he or she is angry or scared and wants to take it out on someone. Lawyers are often trying to sue health care workers for malpractice, so having malpractice insurance for nurses is just as important as having it for doctors.

What Boat Owners Know About Insurance

One of the joys of living in California is being so close to the water, and being able to get out on your boat as much as possible. As a boat owner, you need to have boat insurance. There are specific things to take into consideration when you’re looking to purchase boat insurance in California. Here are a few factors you should make sure you understand.

Property insurance will protect your boat from damage to its physical features, such as any furnishings or built-in equipment on board, as well as the sails if applicable and the hull. This coverage also includes towing, collision damage, and any salvage expenses that may result after an accident.

Another consideration is that of marine liability. Boat owners know that there are risks inherent in navigating, and this coverage protects a boat owner from damage to someone else’s property or injuries caused as a result of an accident. This coverage can also take care of legal expenses as a result of a lawsuit related to an accident or injury.

Smart boat owners know that boat insurance in California can cover a wide range of risks. Before you purchase a policy for your boat, make sure that you understand the coverage you need, so you can have peace of mind while you enjoy the water.

Why Every Contractor Needs Performance Bonds

Performance bonds, also known as surety bonds, are the lifeblood of your contracting business. Without them you will be blocked from bidding on many lucrative jobs since most commercial contracts, and all federal projects, require them.

Most Common Bonds Used by Contractors

  • Bid Bonds – provide assurance that you will enter into a contract, and post a performance bond, if you are awarded the project.
  • Performance Bonds – guarantee that you will complete the contract, per specifications.
  • Payment Bonds – certify that you will pay all your subcontractors.

Parties to the Contract

Surety bonds have three parties to the contract:

  1. Obligee – this is the project owner (the one who benefits from the bond if the contractor fails to perform)
  2. Principle – the contractor who will complete the work
  3. Surety – the issuer of the bond

In the event the contractor defaults on his performance, both the contractor and the insurance company are jointly and severably liable. If a solution cannot be found, the obligee has the right to collect the full amount of the bond.

Protect Your Business and Reputation

Being able to obtain surety bonds not only opens the door to all types of jobs, but it also provides assurance to subcontractors that they will be paid if they do work for you. Your reputation is everything in the contracting business, so visit an insurance bond specialist and get your business off on the right footing.

Umbrella Liability Insurance for Staffing Agencies

Staffing agency insurance packages should include an Umbrella Liability policy to protect agencies in the event that other coverage falls short. An Umbrella policy provides additional coverages and limits of liability over other underlying policies including but not limited to auto policies, Professional Liability, General Liability and Employment Practices Liability coverage. If other policies reach their limits and additional coverage is needed, Umbrella Liability steps in. You may think of umbrella policies as a kind of safeguard that pick up where other liability coverage leaves off. Many clients, in fact, require that staffing agencies carry such coverage.

What Is Covered?

Umbrella Liability policies generally include increased coverages and limits of liability over any underlying policies. These underlying policies can include:

  • General Liability coverage
  • Professional Liability coverage
  • Employee Benefits Liability coverage
  • Commercial Auto Liability coverage

What Else Is Included?

Plans may include Casualty Business Crisis Expense coverage. This covers:

  • Major accidents
  • Multiple injuries and deaths
  • Burns
  • Dismemberment
  • Traumatic brain injury

In the event of a major accident, staffing agencies should carry Umbrella Liability Insurance. As with all coverage, we may hope that we never have to use it, but when we do, it’s a necessity. Any staffing agency insurance plan should include appropriate Umbrella Liability Insurance.